GSK Egypt moves to loss in Q1 2024

Updated 5/15/2024 9:31:00 AM
GSK Egypt moves to loss in Q1 2024

Arab Finance: GlaxoSmithKline Egypt (GSK – Egypt) recorded EGP 8.99 million in consolidated net losses after tax and non-controlling interest in the first quarter (Q1) of 2024, against EGP 13.811 in net profits in Q1 2023, as per a disclosure.

However, net sales soared to EGP 713.809 million from January through March this year from EGP 460.659 million over the same period a year ago.

The company registered standalone net losses after tax of EGP 2.046 million in Q1 2024, compared to EGP 21.006 million in net profits during Q1 2023.

GSK Egypt, a member of the British pharmaceutical company Glaxo Group, is an Egypt-based company engaged in the manufacturing, packaging, marketing, selling, and distribution of pharmaceutical products.

 

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